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Posts Tagged ‘loan-repayment’

Unable to repay those loans come with the point, do not know how to handle themselves without direction, banks and developers have a headache. There is also no relevant laws, specifically to solve such problems. We believe that the inability to repay the people negotiating with banks to resolve the losses to a minimum, is a good way to solve the problem.
Repayment obligations clear
Before transfer of property rights, the developer is responsible repayment.
Delivery of the first buyers to pay mortgage completed, developers and buyers to establish relationship between the buying and selling homes. The developer did not apply for certificates of title for the property owners prior to the lender to stop repayment, bank lenders have no right to find a reminder, only to find developers to condemn.
After the transfer of property rights, homeowners are responsible repayment.
Homebuyers and lending relationships between banks originally. Meanwhile, the bank loans in order to protect the safety requirements for mortgage lenders to real estate, which add another layer of security relations. After handling the property card, loan contract and mortgage contract to enter the implementation process, the borrower paid on time monthly payments if there is not the case, banks have the right to the lender for processing.
“Check out difficult
Not apply for certificates of title, if the buyers stop repayment will dispute with the developers, if developers can agree to check out, is the best result. However, only in the following cases, the developer will agree to check out.
First, the house sold very well, close to the out of stock, this situation may give you a full refund of initial payment. Hot real estate market a few years ago, some home buyers to question the quality of the house to require developers to deal with. Firm attitude of developers do not want to be back, I put a lot of money, a point returned to you! People who want to buy a house almost broke head off! Read the rest of this entry »

Matching principal, matching the implementation of principal and interest repayment after 5 years, the mortgage repayment more and more colorful, Shenzhen Development Bank launched the “bi-weekly for the Shanghai Bank launched the” grace period, China Everbright Bank launched fixed-rate … … the public on how choose a suitable repayment and relatively economic way? Through comprehensive comparison, the 10 species currently on the market advantages and disadvantages of repayment and for people to make the following analysis:

1, major banks: equal installments of principal and interest, equal principal
Domestic banks, with more traditional adjustable rate mortgages as “matching principal and interest and” two equal principal repayment method. Equal installments of principal and interest: home buyers loan period, the amount of repayment in equal monthly principal and interest. Benefits: monthly repayment amount equal to capital expenditures to facilitate arrangements for home buyers. Disadvantages: the beginning of repayment, the interest is also the first principal less higher, the total All told, the total expenditure of interest payments in the way of all the highest. Equal installments of principal: the borrower will pay equal monthly principal and interest calculated according to the remaining principal, but also the amount of the initial large, followed by a monthly decrease. Advantages: Compared with the matching principal and interest, you can save a lot of interest. Disadvantages: the beginning of monthly payments higher. Applicable people: equal principal and interest applicable to the average income homebuyers; equal principal means applied to the strong buyers.

2, China Everbright Bank: fixed, floating rate Mutual Convert business
Fixed-rate mortgages and floating rate mortgages convert to borrowers more flexibility to avoid the risk of interest rate fluctuations, calmly arrange household spending, reduce borrowing costs, facilitate family financial management.
Benefits: to avoid the risk of interest rates. Meanwhile, with China Merchants Bank and Construction Bank of species compared, China Everbright Bank’s prime rate has been in the same industry in the lower level. Has applied to convert floating-rate fixed-rate services to customers, banks do not charge any fees. Disadvantages: For fixed-rate mortgage has been handled, and the duration of fixed-rate loans to more than 1 year in 5 years customers pay a penalty in the circumstances, to apply for a transfer to do floating-rate mortgages. Applicable people: the future of interest rates is expected to call the customer the option of fixed-rate mortgage, to avoid the risks of rising interest rates.

3, Agricultural Bank of China: Relay mortgage
As for children who purchased the property housing, either one or both parents and their children as co-borrower, Relay repayment. Popular point that is not the parents, and by the children went on.
Advantages: You can borrower age and length appropriate to extend the loans, not related to the limits.
Disadvantages: between parents and children may be due to property rights disputes, or the heirs because of the legacy of problems between the disputes.
Applicable people: children of the borrower as the expected future income is better, but low income, under the existing provisions of loanable amount less, hope that by increasing the parent as a co-borrower in order to increase the amount of loans. Read the rest of this entry »

With the interest rate and policy changes, many people began to consider in advance to pay off bank loans, loan repayment ahead of schedule which also France, What are the requirements, the attention to what the problem?
Full prepayment, including advance payments, advance payments and loans to some of the same period, early partial repayment and shorten the term of the loan three cases. Loans the bank can only accept payment from a personal loan repayment on the second, the borrower for early repayment.

Prepayment process (in the Agricultural Bank as an example)
step1 telephone consultation
Want to learn early repayment of the relevant information, we must first call to apply for loans had branches, contact the clerk or a customer apply for credit managers, can apply for advice in advance loans, apply for loans in advance the need for an appointment, determine the time. Every day, some banks are not able to provide consulting services on prepayment.
step2 Reservation
To ensure orderly business operations, most banks require customers to make an appointment in advance, and the time required for each branch, the procedures vary. For example, the Agricultural Bank of China Shanghai Branch demands prepayment for one month in advance, and then each branch of the case according to their workload at a reception on unification process.
step3 formalities
Repayment before, customers need to prepare identity cards and bank had signed loan contracts. Apply early repayment of the procedure is simple and can be within one day after finishing. To the Agricultural Bank, for example, customers in addition to repayment, the only fill in two forms, namely “Agricultural Bank of China Shanghai Branch at the reduced rate for individual housing loans, for approval” and the “Agricultural Bank of China Shanghai branch of individual housing loans reduced rate of agreement. ”
step4 refund Insurance
If customers choose all of prepayment, then pay off the entire loan, the original individual housing loans have an early termination of housing insurance contracts. In accordance with the relevant provisions, the lender can bring the original insurance policies and pay off the loan early proof to the insurance company pay the premium refund. Therefore, lenders, after a loan repayment ahead of schedule after the procedure, do not forget to back the insurance company of their own money. Read the rest of this entry »

Bank’s financial experts have warned the public: Public housing mortgages in the process must be looking to buy a fashion as, like, pick and choose, shop around and is a required borrowers homework. Same preferential policies should also learn to use banks, used judiciously, may give you save a substantial sum of money.

First, we must boldly chosen bank.
Select a good bank is equivalent to choose a superior service. The level of banking services in addition to the attitude of staff well, the more is reflected in the efficiency of banks, reflected in the product’s uniqueness is reflected in the actual situation can be tailored according to the customer the most suitable products. Loan before the election on the public can compare the two banks: pre-reception is warm, detailed description, sale procedures are simple, flexible operation, after-sale loan repayment convenience to take the initiative to remind. In choosing the bank mortgage loans, will be able to play well this “trilogy” on the first banking services.

Second, borrowers are free to choose ways and repayment period of loan repayment.
Mortgage banks, generally, “equal principal repayment” and “repayment of principal and interest equal” two mortgage, the borrower must be based on their actual choice of funds. If the weak stock market, and money off the hands of home buyers the option of “equal principal payments” to accelerate the return of loan principal, reducing interest payments. Housing loan is a long-term behavior, it is inevitable the way the accident situation. If a certain period of time, homeowners invest in another direction, to reduce the repayment of the total spending is also completely made changes to the loan and loan application period. But the pay-line borrowers credit experts advise: Change Loan may only be the beginning of each year, namely in January each year for a change to the lending bank loan application for change. On any repayment, some or all of the early repayment, the bank’s borrowers prepayment is entirely according to the actual signing of the loan agreement Zhi Xing, Shi Jian and loans under the loans charge interest on the amount of factual. Read the rest of this entry »

With the interest rate and policy changes, many people began to consider in advance to pay off bank loans, loan repayment ahead of schedule which also France, What are the requirements, the attention to what the problem? Full prepayment, including advance payments, advance payments and loans to some of the same period, early partial repayment and shorten the term of the loan three cases. Loans the bank can only accept payment from a personal loan repayment on the second, the borrower for early repayment.

Prepayment process (in the Agricultural Bank as an example)

Telephone counseling

Want to learn early repayment of the relevant information, we must first call to apply for loans had branches, contact the clerk or a customer apply for credit managers, can apply for advice in advance loans, apply for loans in advance the need for an appointment, determine the time. Every day, some banks are not able to provide consulting services on prepayment.

Reservation

To ensure orderly business operations, most banks require customers to make an appointment in advance, and the time required for each branch, the procedures vary. For example, the Agricultural Bank of China Shanghai Branch demands prepayment for one month in advance, and then each branch of the case according to their workload at a reception on unification process.

Formalities

Repayment before, customers need to prepare identity cards and bank had signed loan contracts. Apply early repayment of the procedure is simple and can be within one day after finishing. To the Agricultural Bank, for example, customers in addition to repayment, the only fill in two forms, namely “Agricultural Bank of China Shanghai Branch at the reduced rate for individual housing loans, for approval” and the “Agricultural Bank of China Shanghai branch of individual housing loans reduced rate of agreement. “

Insurance refund

If customers choose all of prepayment, then pay off the entire loan, the original insurance contracts of individual housing loans have an early termination of housing. In accordance with the relevant provisions, the lender can bring the original insurance certificate and pay off the loan ahead of schedule, to pay insurance premium refund. Therefore, lenders, after a loan repayment ahead of schedule after the procedure, do not forget to back the insurance company of their own money.

Early repayment method (for example the Agricultural Bank)

Full prepayment, that is, customers will be left off all the loans repaid. Part of the prepayment, the remaining loans maintain the same monthly repayment amount, repayment period will be shortened. Part of the prepayment, the remaining loan will reduce the monthly repayment amount, repayment period remain unchanged. Part of the prepayment, the remaining loan will reduce the monthly repayment amount, repayment period will be shortened at the same time. The total principal amount of the remaining loans remained unchanged, only to shorten the repayment period. Read the rest of this entry »

Buy mortgage insurance, also produced does not mean peace of mind, insurance companies, the conditions of the mortgage insurance claims to make strictly limited. According to “Shanghai individual housing mortgage insurance policy clause” provides that the following ten cases, the insurance company is not compensable:

1, housing due to faulty design, defective material, poor technology, building settlement and other reasons as well as natural wear and tear, caused by the loss of normal maintenance;

2, before the accident, buyers did not perform “personal housing mortgage contract” agreed the outstanding loan repayment obligations, the amount of principal and interest;

3, war, similar to the conduct of war, military operations, armed conflict, strikes, riots, civil commotion, causing the death or loss of home buyers repayment ability;

4, nuclear radiation or contamination caused by the death or loss of purchase repayment ability;

5, administrative actions or enforcement actions, resulting in the death or loss of home buyers repayment ability;

6, due to earthquakes or earthquake causes death or loss caused buyers repayment ability;

7, for buyers or their family members by the intentional act, resulting in the death or loss of home buyers repayment ability;

8 buyers lost due to illness or death of repayment ability;

9, due to suicide, self-injury, excessive drinking, drug abuse, criminal acts caused the death or loss of home buyers repayment ability;

10 buyers from unauthorized changing the structure of.

In addition, insurance companies, also provides buyers must fulfill the following obligations, or when the accident came, the insurance company will not be compensated.

1, insurance, the homeowners insurance company shall truthfully inform the housing situation.

2, when signing the insurance contract paid off all the premiums.

3, shall comply with state fire, safety requirements, maintenance of housing security.

4, such as content as specified by the policy changed, the insurer shall promptly apply to the marking procedures.

5, such as loss, home buyers should be actively rescue, so to reduce the losses to a minimum, while protecting the scene and immediately notify the insurance company to help survey.

Also, according to insurance terms, only repay the loan principal repayment unexpected when people can receive compensation. The parameters involved in loan-repayment who have accidents and insurance companies will not accept the claims of.